Dalby's Limited Filleted accounts for Companies House (small and micro)

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COMPANY REGISTRATION NUMBER: 428913

Dalby's Limited

Filleted Unaudited Abridged Financial Statements

31 July 2022

Dalby's Limited

Abridged Statement of Financial Position

31 July 2022

	2022		2021
Note	£	£	£

Fixed assets

Intangible assets	5	5,000	–
Tangible assets	6	450,281	350,375
		---------	---------
		455,281	350,375

Current assets

Stocks	13,417	–
Debtors	11,388	8,178
Cash at bank and in hand	9,284	45,923
	--------	--------
	34,089	54,101

Creditors: amounts falling due within one year	26,415		22,700
	--------		--------
Net current assets		7,674	31,401
		---------	---------
Total assets less current liabilities		462,955	381,776

Provisions

Taxation including deferred tax	47,538	28,580
	---------	---------
Net assets	415,417	353,196
	---------	---------

Capital and reserves

Called up share capital	100	100
Non distributable reserves	385,964	304,964
Profit and loss account	29,353	48,132
	---------	---------
Shareholders funds	415,417	353,196
	---------	---------

These abridged financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies' regime and in accordance with Section 1A of FRS 102 'The Financial Reporting Standard applicable in the UK and Republic of Ireland'.

In accordance with section 444 of the Companies Act 2006, the abridged statement of comprehensive income has not been delivered.

For the year ending 31 July 2022 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

- The members have not required the company to obtain an audit of its abridged financial statements for the year in question in accordance with section 476 ;

- The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of abridged financial statements .

Dalby's Limited

Abridged Statement of Financial Position (continued)

31 July 2022

All of the members have consented to the preparation of the abridged statement of comprehensive income and the abridged statement of financial position for the year ending 31 July 2022 in accordance with Section 444(2A) of the Companies Act 2006.

These abridged financial statements were approved by the board of directors and authorised for issue on 24 March 2023 , and are signed on behalf of the board by:

NG Silverstein

Director

Company registration number: 428913

Dalby's Limited

Notes to the Abridged Financial Statements

Year ended 31 July 2022

1. General information

The company is a private company limited by shares, registered in England and Wales. The address of the registered office is 268/270 London Road, Westcliff on sea, Essex, SS0 7JG.

2. Statement of compliance

These abridged financial statements have been prepared in compliance with Section 1A of FRS 102, 'The Financial Reporting Standard applicable in the UK and the Republic of Ireland'.

3. Accounting policies

Basis of preparation

The financial statements have been prepared on the historical cost basis, as modified by the revaluation of certain financial assets and liabilities and investment properties at fair value through profit or loss. The financial statements are prepared in sterling, which is the functional currency of the entity.

Revenue recognition

Turnover is measured at the fair value of the consideration received or receivable for goods supplied and services rendered, net of discounts and Value Added Tax. Revenue from the sale of goods is recognised when the significant risks and rewards of ownership have transferred to the buyer (usually on despatch of the goods); the amount of revenue can be measured reliably; it is probable that the associated economic benefits will flow to the entity; and the costs incurred or to be incurred in respect of the transactions can be measured reliably.

Corporation tax

The taxation expense represents the aggregate amount of current and deferred tax recognised in the reporting period. Tax is recognised in profit or loss, except to the extent that it relates to items recognised in other comprehensive income or directly in equity. In this case, tax is recognised in other comprehensive income or directly in equity, respectively. Current tax is recognised on taxable profit for the current and past periods. Current tax is measured at the amounts of tax expected to pay or recover using the tax rates and laws that have been enacted or substantively enacted at the reporting date.

Deferred tax is recognised in respect of all timing differences at the reporting date. Unrelieved tax losses and other deferred tax assets are recognised to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date that are expected to apply to the reversal of the timing difference.

Tangible assets

Tangible assets are initially recorded at cost, and subsequently stated at cost less any accumulated depreciation and impairment losses. Any tangible assets carried at revalued amounts are recorded at the fair value at the date of revaluation less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

Depreciation

Depreciation is calculated so as to write off the cost or valuation of an asset, less its residual value, over the useful economic life of that asset as follows:

	Equipment	-	25% reducing balance

Impairment of fixed assets

A review for indicators of impairment is carried out at each reporting date, with the recoverable amount being estimated where such indicators exist. Where the carrying value exceeds the recoverable amount, the asset is impaired accordingly. Prior impairments are also reviewed for possible reversal at each reporting date.

Stocks

Stocks are measured at the lower of cost and estimated selling price less costs to complete and sell. Cost includes all costs of purchase, costs of conversion and other costs incurred in bringing the stock to its present location and condition.

Financial instruments

Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the entity after deducting all of its financial liabilities.

Defined contribution plans

Contributions to defined contribution plans are recognised as an expense in the period in which the related service is provided. Prepaid contributions are recognised as an asset to the extent that the prepayment will lead to a reduction in future payments or a cash refund. When contributions are not expected to be settled wholly within 12 months of the end of the reporting date in which the employees render the related service, the liability is measured on a discounted present value basis. The unwinding of the discount is recognised as a finance cost in profit or loss in the period in which it arises.

4. Employee numbers

The average number of persons employed by the company during the year amounted to 4 (2021: 4 ).

5. Intangible assets

	£
Cost
At 1 August 2021	–
Additions	5,000
	-------
At 31 July 2022	5,000
	-------
Amortisation
At 1 August 2021 and 31 July 2022	–
	-------
Carrying amount
At 31 July 2022	5,000
	-------
At 31 July 2021	–
	-------

6. Tangible assets

	£
Cost or valuation
At 1 August 2021	350,500
Revaluations	100,000
	---------
At 31 July 2022	450,500
	---------
Depreciation
At 1 August 2021	125
Charge for the year	94
	---------
At 31 July 2022	219
	---------
Carrying amount
At 31 July 2022	450,281
	---------
At 31 July 2021	350,375
	---------

7. Related party transactions

The company was under the control of Mrs NG Silverstein throughout the current and previous year in her capacity as the managing director and majority shareholder.